Banco Hipotecario S.A. Reports Third Quarter 2011 Results
BUENOS AIRES, Argentina, Nov. 9, 2011 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its third quarter 2011 results.
- Total net income for the quarter was Ps. 14.2 million, compared to Ps. 59.9 million of last quarter and 74.3 million of same quarter of previous year.
- Net financial margin was Ps. 73.4 million, compared to Ps. 139.4 million of last quarter and Ps. 173.1 million of same quarter of last year.
- Interest on private sector loans increased 10.6% and 32.5% QoQ and YoY, respectively, while capital markets expenses plus interest on deposits remained stable over the past quarters.
- Aggregated net income from services was Ps. 94.3 million, 6.3% and 24.9% higher than previous quarter and same quarter of last year, respectively.
- Loans to the private sector increased 5.0% in the quarter and 25.8% YoY growth, non-mortgage loans increased 9.4% QoQ and 49.1% YoY.
- Deposits increased 5.6%in the quarter and 12.2% YoY increase.
- NPL ratio decreased from 3.2% to 1.8% in the year, while coverage ratio was 139.9% compared to 116.7% of 3Q10.
- Equity ratio of 26.7%, higher than the 24.6% of September 2010.
- BH ranks fifth in terms of net worth and thirteenth in terms of assets in the local financial system.
SOURCE Banco Hipotecario S.A.